Arranging business checks is as simple as a trip to the bank. Everyone who is starting a business should open a business checking account and use business checks to pay all expenses and bills relating to their business. This keeps personal finances separate from business finances and makes tax time a lot easier to handle.
Starting a business checking account with a bank is not difficult. First of all, you have to file a DBA with your county - this is a "Doing Business As" form, which is necessary for the bank to process your business checking account. The name you have registered the business under should be neither your first name nor your last name. Charges for filing this form depends on which county you are in.
The initial amount you need to open your business checking account also differs, depending on which bank you use. It will invariably be more than what you need to open a personal account, of course, but you will benefit if you scout around and check what kind of charges are applicable with different banks. Always keep in touch with your accountant, too - there might be fees that come under the tax-deductible category.
The money that you keep in your business checking account will probably not earn any interest. In fact, if your account balance gets too low you may incur extra monthly charges. There are also fees relating to checks paid. Know what fees are being charged and when they are accessed.
Keeping records is very important with a business checking account. Keep track of each transaction so that you do not get overdrawn. This way, you can have a great relationship with your bank, which will grow over time.
Starting a business checking account with a bank is not difficult. First of all, you have to file a DBA with your county - this is a "Doing Business As" form, which is necessary for the bank to process your business checking account. The name you have registered the business under should be neither your first name nor your last name. Charges for filing this form depends on which county you are in.
The initial amount you need to open your business checking account also differs, depending on which bank you use. It will invariably be more than what you need to open a personal account, of course, but you will benefit if you scout around and check what kind of charges are applicable with different banks. Always keep in touch with your accountant, too - there might be fees that come under the tax-deductible category.
The money that you keep in your business checking account will probably not earn any interest. In fact, if your account balance gets too low you may incur extra monthly charges. There are also fees relating to checks paid. Know what fees are being charged and when they are accessed.
Keeping records is very important with a business checking account. Keep track of each transaction so that you do not get overdrawn. This way, you can have a great relationship with your bank, which will grow over time.
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